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 Future of horse racing seen online, overseas
By CAROL DeMARE, Staff writer
Albany Times Union
Wednesday, August 8, 2007
Albany Law School's horse racing conference at the Gideon Putnam in Saratoga Springs, in its seventh year, got under way Tuesday as bidders turned over to Gov. Eliot Spitzer their final plans to run thoroughbred racing and wagering in New York.
For horse owner and Louisville, Ky., attorney Joel Turner, a panel discussion on alternative forms of betting, specifically the rapidly growing exchange wagering, was of particular interest.
"It's Internet-based, and the future for racing," said Turner, who has practiced law for 23 years, owns and breeds thoroughbreds, and has international clients in the sport.
He likes what he's seen from Betfair, a London-based enterprise and the leading provider of exchange wagering, which is not allowed in this country. The company is "highly regulated, very transparent and, in my view, it offers an alternative to parimutuel racing that could create a large growth market for the industry in this country, if the racing industry were to embrace the concept of exchange wagering," Turner said.
In exchange wagering, "odds are not created by a pool, as they are with parimutuel," said Turner, a speaker in years past at the annual seminar sponsored by Albany Law's Government Law Center. "They are created by the bettors, and if the offer is attractive to other participants, they can accept the wager."
A company like Betfair charges a fee and pays racetracks a percentage of it for "the opportunity to make commerce," he said.
The platform for this type of wagering -- which also allows wagers on horses to lose -- is online or by a telephone account. Players could take a laptop to the track and, with satellite access, participate in real-time wagering, Turner said.
A recent story in the trade magazine Blood-Horse said Betfair provides British racing with $9 million to $10 million a year in revenue.
Instead of regulating new forms of wagering in the United States, Turner said, Congress passed legislation last year that, while not directly prohibiting Internet wagering, bars banks and credit card companies from processing payments for such wagering. The restriction, however, does not apply to parimutuel horse racing.
Advocates like Turner embrace different forms of betting. He suggested that exchange wagering with real-time monitoring by sophisticated software methods could succeed by working closely with regulators.
Officer honored Albany County Senior Probation Officer Sean Rentz was recognized last week with the 2007 Outstanding Service By a Probation Officer Award. A probation officer for nine years, he was praised for his competence, caring and responsibility in working with male juveniles.
In receiving the award from Robert M. Maccarone, state director of Probation and Correctional Alternatives, Rentz was credited with being "instrumental to the success of the first year of LaSalle School's Evening Report Center," an after-school program for boys ages 12 to 16. The students at the school are under Rentz's supervision while their cases are pending in Family Court, Albany County Probation Director Patricia Aikens said.
"He's very caring and actually invests himself emotionally and intellectually with the kids," Aikens said. "It's a different role than a probation officer is normally involved in. When he's at LaSalle, he's involved with whatever programming or activity they're involved in, and he's involved with the parents who come to the school."
Rentz and Randy Ontl of Delaware County, who was also recognized, were commended for their commitment to working nontraditional hours, their interest in connecting with those they supervise, and in helping probationers understand the importance of leading law-abiding lives.
Legal camp High school students interested in the law are attending a Mock Trial Camp this week at Doane Stuart School in Albany.
Sponsored by the New York State Bar Association, the 40 teens are top students at high schools across the state who participate in the fast-paced, intensive practice camp, which runs for six days.
The potential future lawyers learn the ropes from seasoned litigators on trial strategies, along with the workings of the legal and judicial systems. They practice opening statements, learn the techniques of direct and cross-examinations and closing arguments, and get pointers on objections, rules of evidence and other court interaction.
Local participants are from Troy, Albany, Saratoga Springs, Colonie, Hudson and Coxsackie. |
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发表于 2007-8-9 04:55